Handelsbanken Fonder AB Has $47.38 Million Stake in Trex Company, Inc. (NYSE:TREX)

Handelsbanken Fonder AB trimmed its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 572,232 shares of the construction company’s stock after selling 2,000 shares during the period. Handelsbanken Fonder AB’s holdings in Trex were worth $47,375,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TREX. Liontrust Investment Partners LLP increased its position in Trex by 2,324.6% during the fourth quarter. Liontrust Investment Partners LLP now owns 1,180,800 shares of the construction company’s stock worth $49,983,000 after buying an additional 1,132,100 shares during the last quarter. BlackRock Inc. increased its position in Trex by 8.4% during the first quarter. BlackRock Inc. now owns 13,421,758 shares of the construction company’s stock worth $653,237,000 after buying an additional 1,034,669 shares during the last quarter. Norges Bank acquired a new position in Trex during the fourth quarter worth $35,763,000. Alliancebernstein L.P. increased its position in Trex by 19.4% during the second quarter. Alliancebernstein L.P. now owns 4,777,034 shares of the construction company’s stock worth $313,182,000 after buying an additional 776,165 shares during the last quarter. Finally, Millennium Management LLC increased its position in Trex by 389.9% during the fourth quarter. Millennium Management LLC now owns 892,913 shares of the construction company’s stock worth $37,797,000 after buying an additional 710,648 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Trex from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. DA Davidson raised their price target on Trex from $80.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Benchmark raised their price target on Trex from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Truist Financial raised their price target on Trex from $70.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group raised their price target on Trex from $89.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.72.

Trex Stock Down 0.6 %

Shares of TREX opened at $87.45 on Monday. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 46.27, a P/E/G ratio of 2.01 and a beta of 1.60. Trex Company, Inc. has a 12 month low of $51.03 and a 12 month high of $101.91. The company has a 50-day moving average price of $94.18 and a two-hundred day moving average price of $79.79.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $195.75 million during the quarter, compared to analysts’ expectations of $193.40 million. Trex had a net margin of 18.76% and a return on equity of 31.26%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts expect that Trex Company, Inc. will post 2.21 EPS for the current fiscal year.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.